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Liquidity event at American manager comes at fraught time for industry
No one is sure when AI's threat will strike, or where
Major sectors in leveraged loans are trading down, making shrewd credit selection vital
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India Toll Roads sold its first dollar bond on Tuesday, becoming just the latest issuer from the country amid an expected surge of supply this year. -
Chinese property company Huafa Industrial Co Ltd Zhuhai raised $200m from the sale of a sub-one year note on Tuesday.
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US insurer Kuvare Holdings has hired Jason Powers, former co-head of the US CLO business at Wells Fargo Securities, to run its credit investments team. Powers is the second CLO expert to join Kuvare in as many weeks, following the recent hire of Jason Merrill.
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Barclays CLO and loan strategist Geoffrey Horton will move to the New York office after spent two years at Barclays based in London, according to a CLO source.
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The first month of 2021 recorded the highest pace of euro CLO issuance since the pandemic, at €10bn, in a sign that market sentiment has recovered. Between March and December last year, issuance averaged between €3bn and €4bn per month.
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CVC’s secondary buyout of building material firm Stark Group will crank leverage back up at the group, following a tough year when previous owner Lone Star battened down the hatches and paid down debt during an initial scramble for liquidity when the coronavirus pandemic struck.
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